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Business Segment Information
 9 Months Ended
Oct. 02, 2021
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company has combined its operating entities into three reportable operating segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment consists of the fluid-handling and doctoring, cleaning, & filtration product lines; the Industrial Processing segment consists of the wood processing and stock-preparation product lines; and the Material Handling segment consists of the conveying and screening, baling, and fiber-based product lines. A description of each segment follows.
•Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, tissue, food, metals, and other industrial sectors. The Company's primary products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems.
•Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The Company's primary products include stock-preparation systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, and logging machinery. In addition, the Company provides industrial automation and digitization solutions to process industries.
•Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural applications and for oil and grease absorption.

The following table presents financial information for the Company's reportable operating segments:
Three Months EndedNine Months Ended
October 2,September 26,October 2,September 26,
(In thousands)2021202020212020
Revenue
Flow Control$76,253 $56,815 $210,769 $165,329 
Industrial Processing81,620 62,086 233,455 192,468 
Material Handling41,916 35,709 123,839 108,800 
$199,789 $154,610 $568,063 $466,597 
Three Months EndedNine Months Ended
October 2,September 26,October 2,September 26,
(In thousands)2021202020212020
Income Before Provision for Income Taxes
    
Flow Control (a)$17,129 $13,770 $51,899 $37,360 
Industrial Processing16,095 12,072 44,449 32,147 
Material Handling (b)3,491 2,614 12,941 10,341 
Corporate (c)(7,987)(7,121)(24,124)(20,737)
Total operating income28,728 21,335 85,165 59,111 
Interest expense, net (d)(1,265)(1,618)(3,321)(5,920)
Other expense, net (d)(23)(32)(71)(95)
$27,440 $19,685 $81,773 $53,096 
Capital Expenditures    
Flow Control$1,128 $509 $1,830 $1,667 
Industrial Processing1,725 785 4,720 2,460 
Material Handling505 486 1,121 1,167 
Corporate12 42 17 125 
$3,370 $1,822 $7,688 $5,419 
October 2,January 2,
(In thousands)20212021
Total Assets
Flow Control$388,662 $263,141 
Industrial Processing399,651 379,965 
Material Handling333,535 273,909 
Corporate11,280 10,556 
$1,133,128 $927,571 
(a) Includes acquisition-related expenses of $2,706,000 in the three months ended October 2, 2021 and $3,942,000 in the nine months ended October 2, 2021 and restructuring costs of $265,000 in the three months ended September 26, 2020 and $721,000 in the nine months ended September 26, 2020. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired profit in inventory and backlog.
(b) Includes acquisition-related expenses of $799,000 in the three months ended October 2, 2021 and $1,411,000 in the nine months ended October 2, 2021 and $248,000 in the three months ended September 26, 2020 and $256,000 in the nine months ended September 26, 2020.
(c) Represents general and administrative expenses.
(d) The Company does not allocate interest and other expense, net to its segments.